Mumbai: Shares of Financial Technologies India (FTIL) ended over 4.5 percent higher after the company inked a pact with ace investor Rakesh Jhunjhunwala and others to sell its entire 5 percent stake in MCX-SX for Rs 88.41 crore.
After gaining 7.54 percent to Rs 194.50 in intra-day trade, shares of FTIL ended at Rs 189.05, up 4.53 percent from its previous close on the BSE.
At the NSE, the stock settled 4.56 percent higher at Rs 189.25.
In terms of volume, 3.18 lakh shares of the company changed hands at the BSE, while over 8 lakh shares were traded at the NSE during the day.
FTIL has been in trouble ever since the Rs 5,600 crore payment scam surfaced at group firm NSEL in July last year.
The group has started exiting from the exchange business both in India and abroad after commodity markets regulator FMC order in December 2013 declared FTIL and its founder Jignesh Shah as unfit to run any exchange in view of this scam.
In a statement, the company had yesterday said, "FTIL entered into a 'Share and Warrant Purchase Agreement' with Rakesh Jhunjhunwala and separate 'Warrant Purchase Agreements' with Edelweiss Financial Services" and other investors for sale of its 100 percent stake in MCX-SX comprising of 2,70,00,000 equity shares and 56,24,60,000 warrants for an aggregate consideration of Rs 88.419 crore."
FTIL has signed separate pacts for sale of equity as well as warrants with investors including Trust Investment Advisors, Viral A. Parikh, Nemish S. Shah HUF, Derive Investments, Kalpraj Dharamshi, Dhanesh Sumatilal Shah, Uday Shah, Madhuri Kela, Renuka Shah, SKS Capital & Research and Madhu Vadera Jayakumar, the statement said.
